$SOL is sitting at $90 and everyone thinks it is cheap, I think it is still a trap
Live: $SOL $90.16 +0.94% | H $91.59 L $88.96 | Current $90.02
I am looking at 4h and I am not excited yet. We tried to push to $97 and failed to make a higher high, then sellers dumped us straight back down. Now we are hugging $90, just above $88.30 low. That is not a reversal, that is just price resting before next move.
Here is what I see. We fell from $109.20 swing high and kept making lower tops and lower bottoms. Price is under MA7 $90.17 and MA14 $91.38, and Bollinger middle is $92.19. Upper band $97.51, lower band $86.87. So we are stuck under all the averages.
Momentum is weak but not washed out. RSI7 36.51, RSI14 39.42, RSI21 40.24. MACD still negative, DIF -1.24, DEA -1.12, histogram -0.12. Volume spiked to 335.9K vs MA5 77.23K, so that selloff was real, not thin.
The scary part is derivatives. Combined OI around $1.39B on Binance + Bybit, funding still positive, and roughly 78% accounts are long. When everyone is long at support, support breaks harder. If $88.30 gives up, longs get squeezed.
Fundamentals are still solid, SOL around $90.20 with $53.3B market cap, 590.98M circulating out of 637.12M total, no fixed max, inflation going down, staking and fee burn helping. But strong network does not mean price has to bounce right now, especially when BTC is weak, tech stocks are selling off, ETFs are seeing outflows and liquidations are everywhere.
My plan is simple and I am not chasing $90 middle. I need to see hold above $88.30 and then reclaim $92.19 with volume to think long. First hurdle is $91.38, then $92.19, then big wall $97.51 to $98.03. If we fail at $91 to $92 or close 4h below $88.30, I stay defensive and look short toward $86.87 lower band.
Risk 1 to 2% only. This is a decision zone, not a buy zone.
Be honest, are you buying this $90 dip or waiting for $92.19 reclaim like me? Comment HOLD or WAIT.
Tap to trade 👉 $SOL
#sol #solana @Binance Square Official
Live: $SOL $90.16 +0.94% | H $91.59 L $88.96 | Current $90.02
I am looking at 4h and I am not excited yet. We tried to push to $97 and failed to make a higher high, then sellers dumped us straight back down. Now we are hugging $90, just above $88.30 low. That is not a reversal, that is just price resting before next move.
Here is what I see. We fell from $109.20 swing high and kept making lower tops and lower bottoms. Price is under MA7 $90.17 and MA14 $91.38, and Bollinger middle is $92.19. Upper band $97.51, lower band $86.87. So we are stuck under all the averages.
Momentum is weak but not washed out. RSI7 36.51, RSI14 39.42, RSI21 40.24. MACD still negative, DIF -1.24, DEA -1.12, histogram -0.12. Volume spiked to 335.9K vs MA5 77.23K, so that selloff was real, not thin.
The scary part is derivatives. Combined OI around $1.39B on Binance + Bybit, funding still positive, and roughly 78% accounts are long. When everyone is long at support, support breaks harder. If $88.30 gives up, longs get squeezed.
Fundamentals are still solid, SOL around $90.20 with $53.3B market cap, 590.98M circulating out of 637.12M total, no fixed max, inflation going down, staking and fee burn helping. But strong network does not mean price has to bounce right now, especially when BTC is weak, tech stocks are selling off, ETFs are seeing outflows and liquidations are everywhere.
My plan is simple and I am not chasing $90 middle. I need to see hold above $88.30 and then reclaim $92.19 with volume to think long. First hurdle is $91.38, then $92.19, then big wall $97.51 to $98.03. If we fail at $91 to $92 or close 4h below $88.30, I stay defensive and look short toward $86.87 lower band.
Risk 1 to 2% only. This is a decision zone, not a buy zone.
Be honest, are you buying this $90 dip or waiting for $92.19 reclaim like me? Comment HOLD or WAIT.
Tap to trade 👉 $SOL
#sol #solana @Binance Square Official
